Banks and large debtors have set the framework that will determine the extent that loans will not be fully served and the assets that companies will lose.

Eleven global giants have been shortlisted from among those who expressed an interest in the privatisation of Limassol Port, and will be submitting final tenders on January 21, 2016.

Eurogroup President Jeroen Dijsselbloem has said he is optimistic for Cyprus’ smooth exit from its three-year €10b bailout programme at the end of March 2016, even making a comment on the island’s possible reunification.

The Index of Production in Construction has recorded for the first time in the last seven years a positive rate of growth on an annual basis.

Unemployed persons in Cyprus reached 44,550 in December 2015, marking a reduction of 7.0% compared with December 2014, figures released by Cyprus Statistical Service (Cystat) show.

Airport operator Hermes announced recently that passenger traffic in 2015 set a new record as 7.6 million passengers went through Larnaca and Paphos airports.

The Cyprus Investment Funds Association (CIFA) has welcomed the introduction of a new fund vehicle that will bring more opportunities for professional and retail investors.

Revenue from tourism rose in October 3.6% to €225m compared to the respective month of 2015, the statistical service said recently.

Bailed-out Cyprus and its international lenders have reached an agreement regarding the future of semi-state Electricity Authority of Cyprus, it was reported recently.

The tourism industry is expected to receive some €50m in investments this year through a government scheme aimed at extending the island’s tourism season, Tourism and Energy minister George Lakkotrypis said recently.